Pasofino Gold Limited Stock Price, News & Analysis

Pasofino Gold (OTCQB: EFRGF) has provided an update on its exploration program at the Dugbe Gold Project in Liberia. The company is focusing on two promising new drill targets: Jadae East and DSZ, both located along the Dugbe Shear zone near the existing 3.3 Moz Mineral Resource at Tuzon and Dugbe F deposits.

At Jadae East, the team has identified 7 areas of extensive artisanal gold mining within a 3x3 km area. The DSZ target features a channel sample that returned 36 meters averaging 0.6 g/t Au in folded host rocks similar to Tuzon. The company plans to commence drilling in October 2025, targeting areas where deposits similar to Tuzon, which hosts an Indicated Mineral Resource of 2.4 Moz gold averaging 1.40 g/t Au, may be found.

Pasofino Gold (OTCQB: EFRGF) has announced the filing of its annual audited financial statements and management's discussion and analysis for the fiscal year ended April 30, 2025. The Annual Filings are now accessible through the company's profile on SEDARplus and Pasofino's corporate website.

Pasofino Gold (OTCQB: EFRGF) has completed Phase One gap analysis update to its 2022 feasibility study for the Dugbe Gold Project in Liberia. The analysis, conducted by MineScope Services, found no fatal flaws but identified several areas requiring additional work.

The company plans a comprehensive 12-month work program estimated to cost US$6.0-8.0 million, including a 16,000m drilling program, metallurgical testing, and infrastructure reviews. Additional costs include US$1.8 million in government fees for ESIA submission and mining license application.

Notably, Pasofino faces challenges with the Liberian government, owing US$3.5 million in overdue payments, which must be addressed by early September 2025 to avoid potential MDA cancellation.

Pasofino Gold (OTCQB: EFRGF) has engaged Independent Trading Group (ITG) to provide market making services for its common shares. The agreement, effective May 14, 2025, involves ITG maintaining market liquidity and improving trading quality of Pasofino shares across the TSXV and other venues.

Under the agreement terms, ITG will receive monthly compensation of C$5,000 plus taxes, with an initial one-month term that automatically renews. The Company has already paid ITG C$17,857.14 to date. The arrangement can be terminated by either party with 30 days' notice, and notably, ITG will not receive any shares, options, or other securities as compensation.

Pasofino Gold (TSXV: VEIN) announced its participation in a live virtual corporate update hosted by Red Cloud Financial Services on August 15th, 2025 at 3:00 PM ET. The presentation will include a Q&A session and will be available for replay on Red Cloud's website.

The company owns 100% of the Dugbe Gold Project in Liberia and plans to update its 2022 feasibility study in 2026. Pasofino aims to make a construction decision and secure project financing in H1 2026. The company's major shareholder, Mansa Resources Inc., along with its parent organizations, is committed to financing the project through to commercial production.

Pasofino Gold has engaged MineScope Services to update the feasibility study for its Dugbe Gold Project in Liberia. The update will be conducted in two phases, with the first phase focusing on gap analysis and trade-off studies of the July 2022 feasibility study. The project's key metrics from the 2022 study include a 5Mtpa throughput over 14 years, average annual production of 200koz for the first 5 years, startup capital cost of $435M, post-tax NPV of $524M at $1,700/oz gold, and AISC of $1,005/oz. The project boasts a mineral reserve estimate of 66Mt at 1.30 Au g/t for 2,760koz. The company aims to enhance the economic outputs while maintaining the same throughput rates, with CEO Brett Richards highlighting Liberia's geopolitical stability and the project's potential as a significant cash-flow generator given current gold prices.

Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF), a company focused on developing the Dugbe Gold Project in Liberia, has announced its participation in THE Mining Investment Event, scheduled for June 3-5, 2025, at the Quebec Convention Centre in Quebec City, Canada. This Tier 1 Global Mining Investment Conference provides a platform for the company's management to engage in one-on-one investor meetings throughout the three-day event. The conference represents a significant opportunity for Pasofino Gold to connect with a global audience and industry leaders in the mining sector.

Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) announced the termination of its shareholder rights plan agreement with Computershare Investor Services Inc. The termination occurred on May 1, 2025, as the company failed to obtain the required shareholder approval within the six-month deadline from the plan's effective date. According to TSX Venture Exchange Policy 3.1, the Rights Plan needed majority approval from voting shareholders. As a result, all outstanding rights under the plan have ceased to represent any entitlements, including the right to acquire company common shares. All certificates, statements, or instruments previously evidencing these rights are now void and unenforceable.

Pasofino Gold (EFRGF) has entered into a binding Co-operation Agreement with its 50.8% shareholder Hummingbird Resources PLC (HUM) and Nioko Resources. The agreement includes a Board reconstitution with three HUM nominees and three Board nominees, and plans to terminate the company's shareholder rights plan.

The company will seek to raise approximately US$10 million in 2025 and US$15 million in 2026 to update the Dugbe Gold Project Feasibility Study and commence pre-construction activities. HUM has agreed to participate pro-rata as the lead order in these financings.

Key terms include terminating the current strategic review process, completing a revised Feasibility Study within 12 months, and a standstill period until October 31, 2026. The Dugbe Gold Project currently showcases 2.76Moz in reserves with a 3.5-year capex payback period and 14-year mine life.